Insurers Sue Oil And Gas Co. Over $50M Hurricane Ike Claims

Law360, New York (August 17, 2012, 7:08 PM EDT) -- Three excess insurers sued oil and gas company W&T Offshore Inc. in Texas federal court Thursday, claiming they have no duty to cover about $50 million in claims stemming from Hurricane Ike damage.

W&T had turned to primary and excess insurers for coverage in September 2008 after Hurricane Ike damaged more than 150 offshore platforms in the Gulf of Mexico. According to the suit, the company has submitted more than $150 million in claims for physical damage and operators' extra expense, forcing the removal of wreck...